Venezuela, Russia Agree on Debt Restructure as Bondholders Meet

Venezuelan President Nicolás Maduro announced this Sunday that the government had reached an agreement to refinance and restructure the Venezuelan debt with Russia.

“We have reached an agreement with Russia, this week will be signing an agreement where refinancing is established,” the president said.

“We have complied with all our international commitments,” the Venezuelan leader recalled.

Maduro Tweeted: “This Monday, the first round of renegotiation of the Venezuelan external debt will take place, we are overcoming the economic war, they will not be able to beat us.”  It is worth noting that 91 percent of all holders of the Venezuelan debt will participate tomorrow in the first stage of debt renegotiation and refinance.